Market Overview

Tesla Prices 2.65M-Share Offering At $767

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Tesla Prices 2.65M-Share Offering At $767

Tesla Inc. (NASDAQ: TSLA) said in a filing with the Securities and Exchange Commission that it plans to sell 2.65 million shares priced at $767 each, raising around $2.03 billion in total proceeds in an offering reported on Thursday.

Tesla CEO Elon Musk will participate by purchasing up to $10 million of common stock in this offering. 

Oracle Corporation (NYSE: ORCL) founder Larry Ellison, who is a member of Tesla's board of directors, will purchase up to $1 million of common stock.

SEC Inquiry

The company is facing fresh regulatory scrutiny over its finances. Tesla issued a 10-K filing Thursday indicating the SEC issued a subpoena in December seeking information related to financial data.

Price Action 

Tesla shares were down 0.76% at $797.90 in Friday’s premarket session. The stock has a 52-week high of $968.99 and a 52-week low of $176.99.

Related Links:

Tesla Announces $2B Offering, Musk To Buy $10M In Common Stock

Tesla Recalls 15,000 Vehicles Due To Power Steering Issue Causing Potential Crash

Photo courtesy of Tesla.

Posted-In: Elon Musk Larry EllisonNews Offerings SEC Best of Benzinga

 

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